“In the prologue to The Big Short: Inside the Doomsday Machine, Michael Lewis explains that he envisioned his first and perhaps most famous work, Liar’s Poker, as a grim obituary for an industry that rewarded inexperience and greed. However, the byzantine banking industry continued to flourish, and young readers wrote Lewis to ask how they, too, could get into the game. His disappointment is palpable. In his new book, he may have replicated the mistake of glorifying a troubled industry. The premise of the book is simple: A few investors had the foresight to see that the sub-prime-mortgage loans at the heart of a vast bubble in the bond markets were destined to default and made fortunes betting against them. The Big Short, then, is the story of those counter-investors and in turn, an illustration of what was (and is) wrong on Wall Street.” (03/16/10)